Property Location: Kingsford
Our client had been looking for his first investment property for many months, without success.
They wanted a property that had potential they could add value to, in a location that ideally would appreciate more than other locations.
They had a very limited budget to spend, and wanted the best value for their money possible.
Using our relationships in the industry and our internal database we were able to locate a number of on and off-market properties.
The property that stood out for our client was located 200m away from the upcoming light rail, which is already undergoing a gentrification and will continue after the light rail is operational. A super convenient location just a couple of blocks back from Anzac Parade dining, shops and transport options.
The unit was a light filled, oversized 2 bed home with outstanding lifestyle appeal.
As per our clients brief, it was a great buying opportunity with generous interiors, excellent privacy and lots of potential to renovate and add even more style and value. In addition, the internal laundry could also be converted to an ensuite for the main bedroom which would further add value.
After assessing the market and selling conditions, we commenced negotiations to secure for our client prior to auction, at a price that was well within their budget.
Works included:
Purchase price – $836,000
Renovation cost – $38,000
Market value after renovation – $900,000 to $950,000
Rental return before renovation – $500 per week
Rental return after renovation – $650 per week
"Frank's speed, diligence and care towards his clients shone through immensely during our short period of working together.
Finding a property in the difficult market that is Sydney's eastern real estate proved to be far more achievable with Frank's expertise.
I would absolutely recommend Frank Russo for anyone considering purchasing.”
Ben
Eastern Suburbs Investor
Address: Suite 1512/83 Spring Street Bondi Junction 2022
Postal Address: PO Box 2192 Bondi Junction NSW, 1355
Telephone: 1300 132 970
E-mail: info@searchfindinvest.com.au
